Markets succumbed to selling pressure on Tuesday on the back of weakness in the global market which forced the Nifty 50 to end below the 17000 mark while Sensex breached the key support of 57634. With yesterday’s decline, the Nifty 50 has moved closer to 200-EMA which is placed at 16902 with a possible attempt of ‘Double bottom’.
With the previous week’s closing with a bullish green candle, there are high possibilities for a weekly closing in the positive terrain, and setup in SGX Nifty also points to a bullish descending wedge with possible breakout levels revised to 17235 for the immediate target of 18800.
Key Results today- HCL Tech, Wipro
SGX Nifty Futures
Stocks to watch
Positive Read through
- Tata Consultancy Services: Says Quartz Solution to support the entire lifecycle of CBDT.
- NMDC: Says Got Corporate Affairs Ministry Nod for Steel Demerger.
- Suzlon: Company secures an order of 144.9 MW from The Aditya Birla Group.
- Railway stocks: Railways’ revenue earnings are up by 92% in the passenger segment.
- Suven Life: To Consider and Approve Terms of the Rights Issue including Issue Price and Record Date.
- L&T Fin: Gets SEBI Nod For Change In Control Of L&T AMC With Conditions.
- Honeywell: Announced a new, innovative ethanol-to-jet fuel (ETJ) processing technology.
- IRFC: Signs MoU With IIFCL To Strengthen Cooperation In Financing Railway Infra Projects.
- Tilaknagar Industries: EARC TRUST SC sold 4.2m shares of TLNGR in three blocks, and BOFA Securities Europe SA buys 4.69m shares.
- Delta Corp: Cons net profit at Rs 68.3 cr Vs loss of Rs 22.6 cr YoY, Cons revenue at Rs 270 cr Vs Rs 75 cr YoY.
- Mahindra & Mahindra: Says Jio-BP to set up a charging network for Mahindra’s e-SUVs.
- Spandana Sphoorty: To consider raising funds on Oct. 14.
Negative Read through
- Infosys: The stock will be in focus as Ravi Kumar S has resigned as president effective October 11. (Neutral)
- VST Tillers: First Sentier Investors ICVC-SI Asia Pacific Sustainability Fund sold 1,62,707 shares.
- ONG, OIL- crude falls with Brent slipping below USD 94 a bbl.
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